Electrifying News: Keep an eye on this multibagger heavy electrical equipment stock as it announces to set up India’s first indigenously manufactured SCR Catalysts!

The stock gave multibagger returns of 107 per cent in just 1 year and over 170 per cent in 3 years.

Bharat Heavy Electricals Limited (BHEL) has successfully manufactured India’s first set of Catalysts for Selective Catalyst Reactors (SCR) for limiting NOx emissions from thermal power plants. Notably, these catalysts were hitherto being imported and this is a significant milestone under the ‘Make in India’ initiative of the Government of India.

BHEL has set up a state-of-the-art SCR catalyst manufacturing facility at its SBD unit to cater to NOx abatement in thermal power stations. Recognising the long-term severe effects of NOx and in consideration of the Ministry of Environment and Forest’s notification, TSGENCO had placed an order for SCRs for 5x800 MW Yadadri TPS, MAHAGENCO for 1x660 MW Bhusawal TPS, WBPDCL for 1x660 MW Sagardighi TPS and NALCO for 1x18.5 MW Damanjodi TPS.

On Tuesday, shares of Bharat Heavy Electricals Ltd (BHEL) surged 3.15 per cent to Rs 113 per share from its previous closing of Rs 109.55. The shares of the company saw a spurt in volume by more than 1.11 times on BSE.

Order Book Update: BHEL offers a range of eco-friendly thermal power technologies, including boilers, ESPs, FGDs, and SCRs. As of June 30, 2023, the company’s outstanding order book currently stands over Rs 1.50 lakh crore (excluding taxes) with the finalisation of the prestigious Vande Bharat trainset order in April 2023.

BHEL has a market cap of over Rs 38,000 crore. The President of India owns the majority of the company (63.17 per cent), with the remainder divided among FIIs, DIIs, and the general public. The stock gave multibagger returns of 107 per cent in just 1 year and over 170 per cent in 3 years. Investors should keep an eye on this PSU stock.

Disclaimer: The article is for informational purposes only and not investment advice.